BSE warns investors about four unregistered entities offering stock tips, seeking confidential data
Advertisement
New Delhi, Sep 2 : Stock exchange BSE Limited on Tuesday warned investors about four unregistered entities offering illegal services and cautioned investors to stay away from any scheme or product offered by them.
Entities, including Money Talks with Payal, NSE Stock Pro, PTS Prabhat Trading, and PTS Prabhat Trading Service, which are active on Telegram and Instagram, are providing securities market tips to investors or assured/guaranteed returns on investment in the stock market, an official release said.
Further, some are offering to handle trading accounts of investors by asking investors to share their login ID/password, the stock exchange said.
These entities or individuals active on Telegram and Instagram are not registered with the BSE, nor do they have any Research Analyst Registration, the BSE clarified.
Investors are advised not to share their trading credentials, such as user ID/password, with anyone for trading in their account/handling of the portfolio, it warned.
The BSE warned that these schemes involve significant risks and do not provide access to investor protection or dispute resolution mechanisms. It urged investors to check the registration of its intermediaries on its website and use the SEBI’s portal to access investor protection and dispute resolution services.
Investors participate in such schemes at their own risk and cannot seek redress from the BSE, it warned.
The SEBI has also recently alerted the unregistered investment advisory services being provided by entities that falsely claim to be registered intermediaries with it or by showcasing fake certificates purportedly issued by the regulator.
In order to combat market abuse, a Market Intelligence portal has been developed for market participants to provide inputs pertaining to market abuse.
The SEBI had banned its registered intermediaries or their agents from having any association or relationship in any form, whether monetary or non-monetary, for any promotion or advertisement of their services or products, with any unregistered entities.
Entities, including Money Talks with Payal, NSE Stock Pro, PTS Prabhat Trading, and PTS Prabhat Trading Service, which are active on Telegram and Instagram, are providing securities market tips to investors or assured/guaranteed returns on investment in the stock market, an official release said.
Further, some are offering to handle trading accounts of investors by asking investors to share their login ID/password, the stock exchange said.
These entities or individuals active on Telegram and Instagram are not registered with the BSE, nor do they have any Research Analyst Registration, the BSE clarified.
Investors are advised not to share their trading credentials, such as user ID/password, with anyone for trading in their account/handling of the portfolio, it warned.
The BSE warned that these schemes involve significant risks and do not provide access to investor protection or dispute resolution mechanisms. It urged investors to check the registration of its intermediaries on its website and use the SEBI’s portal to access investor protection and dispute resolution services.
Investors participate in such schemes at their own risk and cannot seek redress from the BSE, it warned.
The SEBI has also recently alerted the unregistered investment advisory services being provided by entities that falsely claim to be registered intermediaries with it or by showcasing fake certificates purportedly issued by the regulator.
In order to combat market abuse, a Market Intelligence portal has been developed for market participants to provide inputs pertaining to market abuse.
The SEBI had banned its registered intermediaries or their agents from having any association or relationship in any form, whether monetary or non-monetary, for any promotion or advertisement of their services or products, with any unregistered entities.
Advertisement